Skip to main content

tv   Markets Now  FOX Business  April 19, 2013 1:00pm-3:00pm EDT

1:00 pm
indoors, melissa: police officials >>, we are within 60% 70% of what we are cover. melissa: stocks of lauren simonetti on the floor of the stock exchange. >> it is a mixed market on this final day of a rough week, the dow is down, and in the plus column. the reason it is down, and general electric, all on earnings disappointments, ibm reporting bigger than expected miss for earnings as well as revenue, general ledger assert, earnings met, their revenue beat put the company noted european
1:01 pm
weakness is more than anticipated. that is why the dow is down. back to you. melissa: breaking new details on the manhunt underway in boston. police say they have new lead on the 19-year-old suspect dzhokar tsarnaev who is still at large. his older brother also suspected in the bombings is dead. police just warning controlled explosion is going to take place at a residence in cambridge and boston and the surrounding area remain on lockdown. schools and businesses are close as police tried to contain the violence. joining us is the former mayor of boston, ray flynn, former vatican ambassador. thanks for joining us. you know this city probably better than anyone. i am sure you see different things when you are watching these events unfolds and the rest of us do. tell me your impressions. >> i lived in boston all my
1:02 pm
life, been to so many events over the years, the boston strangler, but i have never seen anything as horrendous as this particular situation. it paralyzed the city and what it has done to boston, lock the city down, there is nothing moving. that is a tragic situation that makes me feel very sad both as a lifelong resident, parent, grandfather and somebody who loves this city and spent my life here to see this is pretty sad. melissa: what do you think of the response? we see the absolute in lockdown, people in theii homes, between new york and boston has been shutdown, cab service isn't happening, people are very much inside their homes, we are seeing updates from harvard university saying they're keeping everybody indoors. what is the response we have seen in the city?
1:03 pm
>> i have seen boston at its finest and its worst. in new york city, the birthplace of american freedom, monday, patriots they, the boston marathon many times i was at the boston marathon, i was there on monday. i am -- they are selling lemonade. little kids in the neighborhood are selling lemonade and cookies to help the family of the little 8-year-old boy who got killed at the marathon. my little grandchildren were at tte finish line. this is affecting everybody. once we find out who was responsible for this and bring them to justice we have to stop doing things a little differently. we are living in a very different country, we are living in a very different environment where it is no longer patriotism and love and family, it is not terrorists and hate.
1:04 pm
we have toounderstand that. we have to say we are in fact committed to our liberties and freedom, but you know, the people also deserve to be safe in their neighborhoods and homes. melissa: you think we have to figure out what to do from here, how to live differently, what should have been the indifferently for something like this not happen? >> we have many students in boston. they get here on a student visa from countries all across the world and we are happy about that but once they get here they don't return. many of them don't return and they stay here for 6 years, they marry and become permanent citizens and we don't know if these two young men from chechnya, i know what that places like. i have seen violence in belfast and all these places where i have been, as a diplomat and an ambassador. the other thing is i always -- at the marathon and walking up
1:05 pm
the street and saw hundreds and hundreds of young people walking around with backpacks on their shoulders. i admit i am getting a little bowls but i said what in the name of heaven to the wealthiest people need backpacks and concerts' and red sox games, at the boston marathon? why are they there? going to work, taking their laptops with them and their business of higher, going to a marathon with a big backpack? one of the carrying? it makes it very difficult for the police to do their job when so many people walking around with backpacks. that is just one small suggestion that i have. melissa: i went to college there and walked around everywhere and that is where you carry books aad everything and you took your sweater or whatever else you had no doubt we will be thinking about all these issues and that is how we stopped it from
1:06 pm
happening again. thank you so much for sharing your thoughts. we appreciate your time. lori: great perspective from the former mayor. let's get more on the reaction from washington, rich edson is live at the white house. president obama was briefed on the situation this morning, the situation room as it is called is active. rich: it is quite active and has been this morning and president obama started a meeting with the vice president, it lasted an hour. we have subsequent meetings here, secretary of state john kerry, secretary of defense shuts hegel, director of intelligence james clapper and others at the white house. however senior administration officials stress that is for previously scheduled meeting of national security principals, so nothing really specifically to do, nor was unscheduled specifically because of the events in boston, that was earlier this morning. news from capitol hill according to bret baier of fox news saying officials briefed lawmakers on capitol hill telling them they
1:07 pm
really want to get this second suspect alive find out perhaps if there are any more people involved, find out whether they have any training overseas or if they were radicalized in the united states or overseas and that has final implications to this investigation when you consider taking him alive versus not so that is something they're working on. we got everything in boston where all eyes in washington are right now from governor deval patrick saying there are continuing developments, can't talk about them now but talk about them later perhaps an for now authorities are keeping that city in nearby boston on lockdown. >> state indoor request continues for the time being, that is unchanged. there are continuing developments in the investigation which we will be able to talk about not now but later. rich: we were supposed to get the daily scheduled briefing. that has been postponed
1:08 pm
indefinitely. we won't get anything until after 2:00 if at all from the white house according to the white house. back to you. lori: you can add this breaking news, we're learning the fbi is on the scene of the suspects's sister's apartment in west new york, new jersey. our partners at fox news reporting three blocks surrounding the apartment are roped off. melissa: the area in and around the city of boston at a virtual standstill as the manhunt continues for the marathon bombing suspect. peter barnes joins us with the latest on transportation around the city. peter: massachusetts bay transportation authority has closed the subway system in the boston area, the famous tea as of this morning, a public bus service remains suspended. greyhound bus service in and out of boston is suspended as well, amtrak is suspended. all service between boston and
1:09 pm
new york city and halted service between boston and providence, rhode island. now it has extended that down to new york city. amtrak says it will restore service when local authorities informed it that it can. federal aviation administration issued temporary flight districts in this over part of boston to, quote, provide a safer environment for law enforcement activities. logan airport remains open under heightened security and those flights are departing and arriving on schedule. melissa: thanks so much. we want to keep you up-to-date on the latest developments out of boston. we are a financial network so we want to bring you up to speed on how the boston-based businesses are eacting to the situation. emc corp. telling fox business they have asked employees to work from home today if they live in affected areas. we heard from l p l financial closed their offices and told employees to stay home. these are a few companies that are headquartered or had prominent office in the boston
1:10 pm
area. we are following the details on the unfolding manhunt in and around boston and we will bring the latest information as we receive it. melissa: we are live on the trading floor of the cme and the stock exchange coming up next. lori: exclusive interview with vanguard ceo bill mcnabb, best selling mutual fund company on record-breaking first quarter. melissa: look at medals as we head to break. the stock market down 41 points, gold trading higher, a tiny bit of a bounce that, silver and copper still getting hammered. we will be right back. ♪
1:11 pm
[ cows moo ] [ sizzling more rain... thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪
1:12 pm
all on thinkorswim. from td ameritre. all on thinkorswim. all stations come over to mithis is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. stananding by for capture. the most innovative software on the planet... dragon is caured. is connecting today's leading coanies to places beyond it. siemens. answers.
1:13 pm
lori: full coverage of market action, lauren simonetti on the stock exchange. we want to start off in the pits of the cme where sandra smith is standing by. in reaction to news out of boston? sandra: we are watching the markets, some what online from trades that happened earlier in the week, gold prices slightly
1:14 pm
higher, crude prices pretty much flat, and they were very volatile all week, taking a little bit of a pause but to quantify how volatile these markets have been, i put together the numbers for you the biggest numbers on the week, day percentage change, silver prices down 12%, gold prices down 7%, nearly $100, and in september of 2011, copper price a reflection of the week call for the global economy, china news earlier this week, bearish, copper prices down 6%. if you're looking for gains, the agricultural sector saw some, and, and natural gas of 4 present. and someone you did the action
1:15 pm
in today's session. and $100 from the close of around $400 a troy ounce. and gold will average 1450 a troy ounce, in 2014. we also see reports of stronger jewelry demand, gold has come down significantly, some buyers stepping in at these levels and copper falling out of favor of this week on weaker reports out of china and also copper is down 6%. lots of volatility, wrapping up the week more muted reaction. melissa: let's check the markets and go to the stock exchange. lauren simonetti is standing by. >> the volatility sandra is talking about is the volatility we are seeing here on wall street. what a week. the dow can't seem to stay or get into the positive at this hour but the nasdaq and the s&p are higher, this has been the
1:16 pm
worst week of the year for all three major averages, the worst week since may and june for all the major averages, dow shares are down and down sharply. the reason is blackstone has dropped out of the raise to take dell private and shares of fallen below the 1365 levelland that is the offer price from ceo michael dell and silver lake. back to you. melissa: thank you so much. the latest on the manhunt in boston, a city on lock down as police search for the bombing suspect. former nypd costed negotiator will join us next with insight into what could be going on behind the scenes. we will be right back.
1:17 pm
1:18 pm
thank you orlle and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it.
1:19 pm
1:20 pm
>> 20 minutes past the hour your fox news minute. boston remains on lockdown as the manhunt for suspect in the marathon bombing continues, amtrak service has been suspended indefinitely. between boston and new york. buses and mass transportation are shutdown but planes are taking off and landing at logan international airport. and youth members who are gay, but continuing to ban gays as
1:21 pm
adult leaders. the scouts will submit this proposal at its national council meeting in texas in a. earlier these out considered letting local scout units decide whether to include or exclude youth and adult members who are gay. in west texas crudes continue to search for possible survivors. 12 people like confirmed dead after the texas fertilizer plant explosion. officials say approximately 200 people are injured. flaco doctors are treating as the blast injuries, not chemical ones, those are your news headlines on the fox business network. back to lori and melissa now. lori: we are following the breaking news out of boston where a man and is still underway, the marathon bombing suspect. joining us on the phone is former director of security and intelligence operations for new york's office of emergency management. use also former hostage negotiator for the new york police department.
1:22 pm
thanks for joining us. a want to ask u.s. somebody who did so much hostage negotiating you are an expert in the psychology of people in this situation and one of the biggest questions so far today has been after these brothers hijacked this car, they eventually left the driver of the cargo after revealing to him allegedly what they had done and who they were. how did something like that happen? why would you guess that they did that? >> that is a good way to start it. at this point in time it would be a guess, not being able to have all of the details. one of the things that has been talked about is the brother was the driving influence and the driving force on this and possibly leading the younger brother rounds and taking him down that line but one of the things that is troubling here is they were both composite and placing the devices, at this
1:23 pm
point every indication this was -- they were the ones who placed the device, he was part of the car chase, he was part of when he fled after his brother the initial reports saying when his brother was shot jumping in the car and drives away and there were things he just goes from one end of the extreme to the other. there were things he was actively involved in an things that he does and the same questions we are asking here now, what would be the next step with him, and the negotiation with him, will there be a chance to get a negotiation? lori: how close on 82 zeroing in the second suspect? and watching all of the news coverage, and using the media to
1:24 pm
the investigation? >> goes on both sides. one of the things the boston pd does is the operation they were at, later pull it back, the original report, and having difficulty in handling the media. if you look at the camera shots from the field, the access they had or the closest the media had to the situation, was virtually unprecedented, and making an entry into the department or building, normally a block or two away or across the street. and law-enforcement trying to live with, utilization of social media.
1:25 pm
and the rumor mill, and really a double-edged sword. the effectiveness when shown then the fbi put the photographs up and get a location on the brothers. melissa: the brother has been characterized, the younger one as following the older one and the insubordinate but you contrast that with the fact that he appears to be taking action from the evidence that we have, he put down a back pack in the video, he continues to be at large, he may have been the one instrumental in going to the atm. why do you put those things together, is he really subordinate to the older brother? >> at this point those are natural questions that everyone is going to ask and wonder why, i am sure the investigators and negotiators that closer to the
1:26 pm
situation by getting all the information, something we have to keep in mind, we are only getting bits and pieces of the story so it is tough to put that puzzle together when you're missing a lot of pieces of the puzzle. i am sure the investigators close to this case have a much better understanding of what is happening from statements the family is making. so you are able to get a much bigger picture and the debrief of what you are dealing with and be able to hopefully engage in a conversation so this can be brought to a quiet and peaceful resolution. lori: it calls for bringing the second suspect alive, is that unusual? it makes sense, the other way to look at it, to unleash more information about who these people are and what their motivation is. >> obviously if this was to end
1:27 pm
badly and he was not to be taken alive, an incredible amount of intelligence information would go with them, and we want to know thrown from the
1:28 pm
vehicle baja and there's probably at some point in time some form of operational support, and to go to our conversation, they are may not be going to give up the information but it would at these give us an opportunity to figure out if there are any other threats that are out there. melissa: thank you for sharing your insights. >> happy to be with you. lori: fox business exclusive, chairman and ceo bill mcnabb joins us on a record-breaking first quarter. melissa: reaction to the unfolding seen in boston. we are live at the white house. ♪
1:29 pm
1:30 pm
1:31 pm
hey everybody, hi mom... streaming live with a tour of my new place... knowing you can still reach out.
1:32 pm
... and now you've seen it. that's powerful. verizon. get mom a lucid 2 by lg fofree.
1:33 pm
1:34 pm
1:35 pm
1:36 pm
1:37 pm
1:38 pm
but, it's a, it's a strategy that is really based on cost being the one variable you can control and, you know our view is that we live in a very, you know, sort of a single-digit return environment if you think about fixed income or equities markets going forward. and cost is a huge component of the net return for most investors and, i think part of our success is due to the fact we're minimizing that. so the investor gets to keep more of his or her return. lori: so you're able to control costs. work that in with many market strategists suggesting the market may have been frontloaded yesterday right? so the stock market, if equities start to pull back now, do you thinkg[
1:39 pm
vanguard mutual fund, we sure thank you for your time. >> thank you very much. have a good day. lori: likewise. wild swipes for gold prices. prices bouncing back above $1400 an ounce and hitting fresh two years lows earlier in the week. charlie is next with a guest who says now is the time to buy the precious metals. melissa: the very latest on the manhunt in boston.
1:40 pm
one suspect is dead the search is underway for a second. now boston firms are telling residents who did go to work today to head home now. the latest just ahead. [ male announcer ] you are a business pro. governor of getting it done. you know how to dance... with a deadline. and you...rent fm national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. yes, it is. everybodhas different ideas, goals, appetite for risk. you can't say 'one size fits all'. it doesn't. that's crazy. we're all totally different. ishares core. etf building blocks for your personalized portfolio. find out why 9 out of 10 large professional invtors
1:41 pm
choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus, which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. you will lose 3 sets of keys 4 cell phones 7 socks and 6 weeks sleep but one thing you don't want to lose is any more teeth. if you wear a partial, you are almost twice as likely to lose your supporting teeth. new poligrip and polident for partials 'seal and protect' helps minimizstress, which may damage supporting teeth, by stabilizing your partial. and 'clean and protect' kills odor-causing bacria. care for your partial. help protect your natural teeth.
1:42 pm
>> july 22nd and august 30th. according to federal officials air travelers nationwide could face flight delays of three hours or more come monday due to sequestration. a traffic controller flows set to begin on monday. significant flight delays are expected in atlanta, chicago, los angeles and new york area airports. philadelphia's third annual tech week is kicking off in a paying way with a atari class i am game pyong. the tournament is ready to kick. that is the latest from fox business, giving you the power to prosper
1:43 pm
melissa: so gold flirting with that $1400 a troy ounce level after plummeting to a two-year low.
1:44 pm
charlie gasparino with a guest who says now is the time to buy. oh my. charlie? >> you know, i cover a lot of wall street firms. you don't have to work at a big wall street firm to be a damn good trader. neil greenberg, independent trader one we've been talking for a while. i like your perspective on markets. i like it on gold. let's break this down. you know what is happening in boston. the markets are pretty stable. last time there was major terrorist attack markets weren't that stable. break us down the difference from trading perspective. >> thankfully boston was nowhere near the scope of 9/11. no business interruption besides boston. you don't have the country shut down for three or four days. boston is shut down today. like i said, business is getting done. transactions are getting done. doesn't mean the second quarter companies won't blame boston for quarterly misses. >> consumer slowdown? >> of course. >> let's get to gold. this is where i find it fascinating. gold is trading incredibly volatile. volatile on the way down. you're a long-term bull, you
1:45 pm
holding it and keep holding it. places like goldman sachs, big wall street firms, are saying sell. >> let me give you an example first. a lot of people, especially average american doesn't really understand the difference between gold as commodity and gold as currency. >> right. >> in normal economic times are flush, gold is a commodity. when times are stressed and they have been gold goes to more after currency. let me give you best example and started learning about trading. in my hand, 1952 quarter. this is made up of 90% silver, 10% copper. coins before 1964 were made that way. now they're mostly copper. in 1952 the coin could buy you a gallon of gas. silver value is worth almost 4 dollars. that is how gold works as a currency. >> you believe it will work long term because of all these fundamentals?
1:46 pm
>> you have worldwide base of base currencies down to zero. the fed is constantly printing money left and right. you have the, bond buybacks they're constantly buying bonds. even though they try to jawbone and talk a tough game. >> washington. >> they will end qe there is no way they possibly can doo3 it for the simple fact the fed is largest holder of united states treasurys. they're boxed into corner. >> they're keeping debasing currency. that said. long term, according to neil, you got it, hold it. short term -- >> unless you own physical gold you do not own gold, all right? pure and simple. you own a piece of paper that says you own gold. if it really hits the fan, good luck trying to get to that gold. >> ol' really? >> i never gone home long overnight as gld i use it as trading vehicle only. >> if you hold, you should hold physical gold? >> you should hold the physical gold. >> bars in the basement? >> one of the, one of the,
1:47 pm
one of the things that the bears always scream about is the cost to hold gold. >> right. >> how will you hold it. >> where are you going to put it? >> costs me $300 a year to store my gold. local bank, safety deposit box. >> you have bars? >> i have coins. i have 10 ounce bars. i have coins. mostly i have vienna philharmonic coins. >> if you want to hold you can hold it. >> if you hold it you need to hold gold. >> let's talk short term people are worried about what is going on right now? you would stay out of the market right? >> as a trader it is two whippy to trade the market. goldman put a sell recommendation on gold. why? this is with l i'm hearing. physical stocks of gold were tremendously dawn down. back in january, germany wants to repay treat 300 tons of gold. the gold is held in the new york. new york fed said we'll give it to you. it will take seven years so they will give it to you.
1:48 pm
>> they saw a short-term trading blip. >> the new york fed claims they own 6700 tons of gold. that they have physical possession of. >> right. >> that has been lent out. and repatriated left and right. a lot of people think many times over. so why can't they deliver gold? why do they have to wait seven years. >> goldman thinks it goes down based on that. >> no. that is bullish thing because you're drawing physical. >> help me out. give me the goldman connection. why are they negative? >> one more thing. they discontinued delivery of their gold to their dutch qlints. why? they don'ttthe physical. now you have a tremendous amount of physical, comex stocks are very low. >> price deflates? >> right. there is the no supply has to go higher. >> you believe goldman is pieing it? >> from what i've been told by many different sources vampire squid is buying with all eight tentacles. >> was this concerted thing? >> goldman puts a
1:49 pm
recommendation. then they have to sell out their gold and cyprus is bailout is paid for. they have only 14 tons of gold. tremendous amount of pressure came on the gold market. as trader, i have noticed -- >> we can't get into this forever. i will believe, goldman you believe is buying gold. >> from what i've been told, yes. >> that is amazing. guys, back to you. leave you on that. melissa: charlie gasparino. thanks so much. lori: it has been 15 minutes sentence our last check of the markets. ben willis joins us from the floor of the new york stock exchange. it has sure been a wild week for the market. curious for your take on volume. i wouldn't be surprised if a lot of traders are ready to call it a week privy too this week right? >> the market has been whipsawed, up down, up down, up down. the volume is relatively light once again. which speaks to the fact, that the money involved in the market is directly related to money flows in and out of other asset classes.
1:50 pm
in this case, i believe we've seen money that has flown out of the, commodities side of the equation into the equity side of the equation. that he is what we're seeing today. so it is a very light day for volumewise. it has been for a while. commitment at these levels to the major market indices on the equities side, reach highs of up 12, 15% on the year need a reset. that money normally investing here in equities kind of staying dry for now. >> is there disconnect, ben, between events unfolding in boston and what investors are considering in their decisions today? >> well i think the situation is in boston are keeping money managers and professionals a huge amount of money managers located in boston. that needs to be also factored into the volume today. we're focused here on the trading floor on all the scenes being delivered to us from fox news onto the trading floor. has us focusing a great deal on our family in boston.
1:51 pm
lori: certainly. certainly. all good things. well-wishes sent to all of them. >> absolutely. lori: one last comment you what you anticipate for next week's trading session and what will be the drivers? >> i think the market is entirely in correction mode. i would not be surprised to see major up today sees like thedown come back to around the 14,000 level. that should not be an issue. that should not issuance of panic in any way, shape or form. long-term investor watching fox business right now that is opportunity to be buying. i said time and time again people who make money in the market are buying things on sale, not when they're going up. lori: well-said, ben willis. thank you, sir. >> you're welcome. melissa: boston is on lockdown as the manhunt continues for the suspected marathon bomber. lori: you heard ben willis said volume impacted by boston based financial firms out of business today because of this. look how some of those businesses are trading today. emc is down. lpl financial, tj maxx, all
1:52 pm
higher on the session. we're back after this. are you still sleeping? just wanted to check and make sure that we were on schedule. the first technologyof it. mom and dad, i have great news. is now providing answers families need. siemens. answers. ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking bond. 80 thousand of us investing billions...
1:53 pm
in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it.
1:54 pm
1:55 pm
lori: more breaking news. you're looking at brand new video, video just in, police go door-to-door in watertown, massachusetts. state police say the marathon bomber suspect is still on loose. massachusetts governor deval patrick asking folks to stay inside as authorities continue this search. boston mayor tom menino saying don't let anyone into your home unless there is a uniformed public safety official, an officer in his or her uniform on the other side of the door. remember if you do see this man, contact the fbi at number on the screen.
1:56 pm
1-800-call-fbi. melissa: coming up tonight on "money" the cofounder and ceo of be bead good. this is boston air burger chain. a few of his restaurants are near where the bombing occurred. that is tonight at 5:00 eastern on fox business. lori: you can't go out and grab a burger in parts of boston. a very tense situation in boston. former cia director james woolsey joins tracy byrnes and adam shapiro next on fox business. you don't want to miss that discussion. keep it here
1:57 pm
1:58 pm
1:59 pm
tracy: welcome back. i'm tracy byrnes, i'm adam shapiro. breaking news out of boston on the manhunt. the city is searching for 19-year-old marathon bombing dzhokhar tsarnaev. they are going door-to-door in watertown where they say
2:00 pm
the search is 60, to 70% complete. tracy: authorities are planning a contained explosion at a location in cambridge this afternoon. as you recall at this point a second suspect was killed last night in a shootout in with police. the suspects are believed to be brothers from the russian region in -- but both lived in the united states for years. adam: president obama has been tracking the boston manhunt from the white house. rich edson joins us with more on that. rich? >> the white house at this point says it doesn't want to micromanage the situation going on in boston right now. we do have more information about the older brother, the first suspect killed last evening. tham tam, did according to -- tamerlan tsarnaev, according to u.s. fox news returned from a united states from a trip to russia. the source did not know or could not tell fox news how long he was outside the united states. feds are continuing to chrome all travel and communications connected to the brothers.
2:01 pm
the elder brother who is deceased last night was out of the u.s. for a prolonged period from early 2012. now the personal angle on all of this right outside of washington, d.c. and suburban maryland where the boy's uncle lives. the news crews caught up to him and he offer ad message to his nephew. >> put a shame on the shame on our families. you put a shame on the entire chechen ethnicity. because everyone now names with the word chechen. >> talking about the second suspect the younger nephews of the two brothers. search going on in boston as you mentioned. firms were briefed a short while ago saying the situation is already fluid. >> at this point we'll
2:02 pm
continue withing following up in that neighborhood. we have several other new leads that developed in the last few minutes and we're working on that. and i will be back here i hope within an hour or slightly above that to give you the next briefing. >> aides telling fox news off capitol hill according to a federal authority briefing, two aides on capitol hill, pretty significant preference to capture the suspect alive. they believe they can get intelligence from him to see if there was any type of help, international help, allegedly being responsible for bombs planted at the boston marathon on monday. it is all continuing here in washington, d.c. as we wait for developments out of boston. back to you. adam: rich edson, thank you very much. tracy: more insight to the manhunt, let's bring in the former director of central intelligence, ambassador james woolsey is with us. he is chairman of the foundation for defense of democracies. i want to follow up what we
2:03 pm
just saw, the uncle. they're here. the boys have been here, we think at least one of them for 10 years and hasn't left the united states. you would think he was radicalized here by his family. his family is here from chechnya. isn't that how they're brought up? >> it's, an outside possibility but my hunch is that assuming he was radicalized by some outside force that it was really communications over the internet. we've seen a number of occasions where islamists preachers, in qatar, where instructions on how to build a an explosive device are on the al qaeda magazine on the web. you don't have to physically get people together or physically live them together in order to influence someone especially in these days and times. the internet and web sites and so forth can do a lot to an impressionable young person. >> we heard rich say in his report they clearly want to take this person, apprehend
2:04 pm
him alive and get others involved with the information from him. what is likely there would be others involved? it is possible these two brothers could have done this on their own, isn't it? >> depends what you mean by involved. if, a, radical preacher in qatar, stresses the importance of jihad and young man gets captivated by that and he develops friends through facebook and so forth that are radical, and, there's a budget for that somewhere in some country contributing to so-called charities that in fact try to radicalize over international communications, is somebody else involved or not? we're past the age where people have to get together, write checks or give cash to one another. this can all be done and create, the situation created virtually. tracy: that is interesting. because one of the things i was going to suggest to you this kid has to be tired. he has been going all night long, right? we're tired just reporting
2:05 pm
on it. so this kid could slip up but maybe if what you're saying is true he has his own little underground railroad so to speak where he can camp out and rest get his energy back? >> he is young but age of most soldiers. most soldiers enlisted and men and women are in their late teens and early 20s and in many armies of the world and including ours. it's, it is unfortunately a rather remarkable example of survival in a amazing situation. tracy: yeah. >> they also basically gave themselves away by holding up the 7-eleven. i mean if you just bombed the marathon and you're hiding away successfully for some hours, then to come up and, hold up a 7-eleven, one thing we know how to deal with is people holding up 7-elevens. adam: there was a report from affiliate in boston that they were throwing explosives.
2:06 pm
these are military grade explosives. those of us who might not be experts in explosives? does that not mean anything? don't most explosives rise to that level? >> could be hand grenades they got somehow. hard to say. apparently one ied was thrown. but the others, could be available on the black market. it's, i just don't know. it depends what they were. tracy: before we let you go, what happens now? what are, other than obviously trying to find this guy, what are the next steps they need to take? >> well, i think, overseas, the cia and our people who work on communications intelligence and watch the internet and the rest, need to very thoroughly scrub to see about any connections that they might turn up with him or his family or anybody he turns out to know or have known. and, try to put back together what happened in this young man's life. it's understandable for them to hate russians.
2:07 pm
the russians have owe he is prosed -- oppressed the chechens terribly over the years. some have gotten so radicalized into radical islam they hate the entire western set of values and that would include you and me. tracy: at this point. ambassador, thanks for being with us. i know you have to catch a train. former director of central tell against and now now foundation for the defense of democracies chairman. thank you, sir. get home safe. adam: thank you for being here. we'll turn our attention back to your investments and the stock market. lauren simonetti is down at the new york stock exchange. we were really worried about the s&p 500 where it closed yesterday. those worries seem to be brushed aside, right? >> the s&p is trading about 1551. two or three points away from the high of the session. the nasdaq is firmly in positive territory after losing 4% this week before coming into today's session. if you look at the dow it is negative. one reason would be ibm. this stock is in yep did i of giving up -- jeopardy of
2:08 pm
giving up all of its 2013 gains on a very rare profit miss. they said they will trim their workforce a little more aggressively this quarter so they can meet their end of the year targets. general electric is weighing on the dow. it does not have a significant weighting thatism b. in does in the blue-chip average but ge, their first-quarter earnings did rise 16% beating expectations but they have concerns about weakness in europe. that's why this stock is down nearly 4%. so those two are looking very ugly. adam and tracy, back to you. tracy: they sure are. lauren, see you in 15 minutes. adam: how should investors adjust after the worst week in months? we want to bring in tom sowanick. chief investment officer at omnivest group. revenue growtt in the first quarter just isn't as strong as we've seen in the previous quarters that would be troubling for a lot of people. >> you have to remember we have a lot of headwinds we're dealing with from the sequester, one, to the tax
2:09 pm
increase, at the payroll tax. so, these issues we have to get through. i don't think they're major but they are headwinds. now we've got a lot of people thinking about what happened last year. down 3% in the second quarter. people wanted to buy in the market started to dip. wait a minute. this may be more significant. the fact of matter, as he have yesterday, 7% of the companies that reported earnings beat estimates. whether the estimates were poor estimate, weak estimates. the fact of the matter as long as data remains relatively, weak, not strong, muddled through the fed will be a long way as way from ending its quantitative easing. the other thing we havv to pay attention to which i think gives us a lot of upside potential is that what's happening in japan is nothing less than significant. and we need to pay attention to the yen. tracy: so let's first finish with the united states because i know you are hot on the yen. you've talked about it last time you were here.
2:10 pm
that means based on what you're say, second quarter we'll be better than last year. not great like first quarter but better? >> yes. and, and i think that again, investors have, whether you're an equity investor or don't think investors have really gone full tilt into the marketplace. tracy: no, they haven't, right? >> so the opportunity is not to get short. i think opportunity is to get long this market. adam: when you say you have to pay attention to the yen, is it as simple that american products, they're going to be more expensive overseas. will that create more revenue for companies like caterpillar who might be? >> i'm not going there with this particular, with the yen. what i'm saying weakness of the yen and the expected further weakness of the yen is really a statement how much more liquidity will be brought into both the financial system and the economic system globally. and that is an add-on to what the fed is doing. tracy: the poinn is it's a lot. >> yeah. tracy: you are also worried
2:11 pm
about initial unemployment claims. >> i'm not worried. what i really want to do because it is high frequency data, it comes out once a week i want to pay attention to it. it is behaving reasonably well. we're at the lower end of the range we've been in. i like to see that continue to dip. if it does all the worries about a slowdown in the second half will be dismissed. adam: real quick, there was a report that you know, the big money, start money, hedge funds actually underperformed the indices last year. what advice would you have for retail investors when they see big guys don't get it right? >> i think, look at things like spy. it is an etf. it mirrors the s&p and costs maybe 10 basis points. you don't need to pay two and 20 or one and 20 to participate in the marketplace. adam: all right. tracy: because it is moving up according to tom sowanick. that is good news. adam: thank you very much for being here. tracy: all right, so the manhunt in boston, much of the city is shut dune as the police search for a suspect in the marathon bombings continues. we'll have the very latest
2:12 pm
ahead. adam: plus fibers -- flyers get ready for long delays. the faa says they are coming through. is it a warning or threat thanks to sequestration? we're live from one of the country's biggest airports next. first time to see how oil is trading friday night, buy.
2:13 pm
2:14 pm
you are gonna need a wingman. and my cash back keeps the party going. but my airne miles take it worldwide. [ male announcer ] it shouldn't be this hard. with creditcards.com, it's easy to search hundreds of cards and apply online. creditcards.com.
2:15 pm
adam: get ready for some massive delays at the nation's airports. the faa is warning that 7,000 flights a day could be delayed due to furloughs of air traffic controllers as a result of sequestration. our jeff flock is at chicago's o'hare international airport with the headaches. >> i know we've heard about this before, adam but this time they're serious. really this could be bad. let's give you a lowdown on the furloughs. by the way, lots of delays out here today. but that is weather, not furloughs yet. here is what will happen. the furloughs will start on sunday. they could affect up to
2:16 pm
7,000 flights. the delays could be as long as 3 1/2 hours according to the faa. 15,000 air controllers in the u.s. they're all going to get one day off every two weeks. and, i will tell you, look at the boards up here now. this is what a normal day looks like. well, not normal. there is some weather out here today. what's the impact in a place like chicago? take a look at these pictures. there are two air traffic control towers in chicago. if don't have enough air traffic controllers to run them both, one needs to get shut down. what happens then? you can operate fewer take yaufls and landings on the runways. we have to shut one or more of the runways. not a good thing. take a look what airlines have to say about this. therefore they're referring us to the airlines for america group. the faa has discretion to implement cuts without furloughing air traffic
2:17 pm
controllers. like customs department, tsa, they have not acted to minimize potential impacts. airlines are not happy about this at all. they mentioned the tsa. the tsa line, there the tsa will not furlough anybody. they come up with anybody for that to minimize the i am packs. they're disappointed airlines, are the administration is doing that. secretary lahood says we have to save money somehow. i leave you with airline stocks. it has been a great year. hope that doesn't get blown up by all of this. i'm going on vacation on sunday. that is when the furloughs are starting to kick in. i will be reporting angrily from the airport if you see me on monday, i'm not going to be happy. tracy:. tracy: ashley will be back on monday. you know how he gets when he talks about airlines and airline experiences. between the two of you will be good tv. jeff flock. >> thanks, trace. tracy: quarter past the hour. we have to get a check on these markets. as we do, lauren simonetti on the floor the exchange.
2:18 pm
we're looking to cross the flat line pretty soon. >> yeah. the dow is coming back, down about 10, 11 points right now. we're talking about two fast-food giants right now. one used to own the other one. mcdonald's let's put them in the negative column. shares are down today. they reported earnings earlier. europe continues to be a weakness. their u.s. sales in fact fell. this is a stock that, just, you know earlier this week it was at $10 a share. they're certainly coming down from the all-time high. now chipolte, mexican grill. what a performance today. what an earnings report. the stock is up 11%. at least five brokerages are raising their price targets on the stock today. chipolte was able it grow earnings despite food cost ininflation. tracy: back to. adam: we have latest on a manhunt for the marathon
2:19 pm
bombing suspect. tracy: developments in the dell buyout. we'll have that and much more as we head out to break. look how the dollar is faring the dow is only down 14 points. we'll be right back. [ male announcer ] you are a business pro.
2:20 pm
omnipotent of opportunity. you know how tmix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i could get used to this. [ male announcer ] yes, you could business pro. yes, you could. go national. go like a pro. tdd#: 1-800-345-2550 hours can go by fore i realize tdd#: 1-800-345-2550 that i haven't even oked away from my screen. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 that's what i have when i trade. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 ...helps me keep an eye on what's really important to me. tdd#: 1-800-345-2550 it's packed with tools that help me worky strategies, tdd#: 1-800-345-2550 spot patterns and find opportunities re easily. tdd#: 1-800-345-2550 then, when i'meady... act decisively.
2:21 pm
tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 with the exact same tools, the exact same way. tdd#: 1-800-345-2550 and the reality is, with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime... tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 ...until i choose to focus on something else. tdd#1-800-345-2550 and only $8.95 a trade. all this with no trade minimums. tdd#: 1-800-345-2550 open an account with a $50,000 deposit, and get 6 months commission-free trades. tdd#: 1-800-345-2550 call 1-80053-0240 tdd#: 1-800-345-2550 and a trading specialist tdd#: 1-800-345-2550 will helyou get started today. all stions come over to miis is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connectintoday's leading companies to places beyondnd i. siemens. answers.
2:22 pm
2:23 pm
>> at 22 minutes past the hour i'm arthel neville with your fox news minute. boston is on lockdown as the manhunt for dzhokhar tsarnaev is underway. the his older brother, tamerlan tsarnaev was killed early this morning after a fatal shooting after mit police officer which led to a car chase in watertown. an angry uncle of the bombing suspect tells his nephew to turn himself in and ask for forgive necessary. the 19-year-old suspect, dzhokhar tsarnaev is still at large. they continued to the dragnet that shut down the city. businesses and schools and universities are shut. amtrak service has been suspended indefinitely between boston and new york. buses and mass transportation are shut down but planes are taking off and landing at logan international airport. and those are your news
2:24 pm
headlines right here on the fox business network. i'm arthel neville. get you back to tracy. tracy: arthel, thank you very much. well the tense situation in boston coming as the dow and nasdaq and s&p about to close out their worst week of the year. charles payne is here with us to talk about how the markets are rereacting. charles, they're holding up, aren't they? >> looking how we opened this morning it could have been a lot worse. the we were down, the dow was off 100 points who were blink an eye. ibm, ge under pressure. so, the fact that we've held up this well is really interesting. and kind of speaks to the entire week where the market has been under a tremendous amount of pressure but held when it had to hold which is the interesting thing. when you're in the market, you always talk about, you always hear the experts say we needed to pull back. we need to do this. it would be can that is rightic, it would be normal. when you're in the throes of that it doesn't feel so good and doesn't feel so normal.
2:25 pm
adam: where does it say we go forward? it seems to me the bulls may be accurate. you're worried about the state. u.s. economy but the market held when it had to hold. >> the big question is still the spring swoon. this would be the third year in a row we've had this sort of u.s. economy sort of just stumble into the spring and for variety of reasons that were, we are always able to write them off as one-offices, european economy, japanese tsunami, mild winter. these kind of things screw said part of the reason the market is up not because of the domestic economy? >> that is one of main reasons, my main reason i like the market because of global economy. not europe, japan or america but countries outside of the norm. when we talk about the global economy, i mean typically, media is euro centric. instead of say what is going on in malaysia even though the fourth largest population. tracy: could you make an argument if the global
2:26 pm
economy keeps up and we get less worse it could be good? >> it could be good. the only thing combing through the numbers. ibm, for instance. the americas were down. the brick nations are only up adjusted for currency. mcdonald's mostly europe. it is a real tough one. i have to tell you the thing that shocked me was ge for instance. they beat on the top and bottom line. i didn't get a chance to listen to the conference call. but that stock immediately took a hit. the good news natural gas had a great week this week. i feel coal hit a bottom. even though all the coal ptocks are getting hit today. it is something of a, it will be real interesting that jobs report that comes out the next one. i think we need something north of 200,000, certainly another $88,000, another 8,000 jobs report would be complete unmitigated disaster. adam: can we cue the tape on cole? >> no, we can't. >> charles payne, thank you very much. >> thanks. adam: boston on edge as police search for a suspect in the deadly marathon
2:27 pm
bombings. next terrorism expert walid phares will tell us what the suspect's background would reveal whether they were working with anyone else. tracy: see? a wild week for stocks, oil and gold. we're tracking the markets every move as we head out to the close. the dow is down 10 points. let's look at some winners and losers, on the s&p 500. there it is. chipolte up top. lauren simonetti talking about it even with the tofu, the stock is up about 11% today. we'll be right back.
2:28 pm
2:29 pm
(train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities.
2:30 pm
adam: 90 minutes until closing bell. lauren at the new york stock exchange it looks like things
2:31 pm
may rebound into positive territory. >> do you is up 13 points right now for the week. the chart is ugly, we have the dow and s&p on track for worse week since june, and nazdaq worst performer this week, you go google shares are up 4%, they put out earnings, what is important in this report is they are still struggling with their ad revenue, their cost per click rate declined 4%. back to you. adam: thank you, lauren. tracy: decline never the lace, the area in and around city of boston is at a virtual stand still as manhunt continues for the marathon bombing suspect. peter with more, i think we heard you could start calling a cab again? >> reporter: yes, taxi have been
2:32 pm
halted earlier this morning but then. a few hours ago. the city the police in boston, approved taxi service to resume, and there is also authorities put out a call for people who went to their offices if they wanted to go back home they could call a taxi. that is one development in last couple hours, elsewhere, massachusets bay transportation authority, closed subway system in boston area this morning, it remains closed this is the famous tee train system, public bus service we mains suspended, greyhound in and out of boston is suspended. amtrak has suspend all service between boston and new york ci city. amtrak said it will restore service when local authorities inform it, it come faa issued a
2:33 pm
temporary flight restrict over part of boston, today, to quote, provide a safer environment for law enforcement activvties. logan airport remains open under heightened security, most flights on schedule. but airport also said that airlines are waving change fees for folks unable to get to the airport today for a flight. tracy: peter barnes, thank you. adam: we're learning more about the binghamptothe -- above the , joining us walid phares. we thank you for coming, can you make a determination if they were acting alone. >> the short answer is no, most likely no. the fact they got that training, making those bombs, of course
2:34 pm
you can find a manual on-line but you need to interact with other people, and other hand they were exchanging fire with law enforcement, killing a security guard, the one who is surviving is acting like a commando. for these reasons training wise they have connection with others, but more important the together of the the idea induck rent. >> adam: we talked about some religious books that saudi government provides to religious organization in u.s. contain this income renting a language. that would. is that what you are talking about. >> that is only one director wolf is right he spoke about it i am saying you have muslim
2:35 pm
brotherhood, and these two, terrorists you know are connected to networks in chechnya, dagges dagestan theree other networks, the body of jihadi literature is source of radicalization. adam: let me ask you, if the 19-year-old never left u.s. after he was 11 years old, that would mean he got trained, if you are right, here in the u.s. >> all scenarios are possible, he could have been trained here, back in 2002 there was a terrorism trial in virginia, there was a so-called paint ball jihad team, training here allegedly to fight in middle east, look. you could fight here. the training could be done here, outside. most important is income indoctrination. >> i think we have good analysts s
2:36 pm
in our bureaucracy and intelligence agency we need a policy at level of administration to intercept this and a good solid discussion in congress. adam: you talk the likelihood there were other people assisting these two men. but when you say others probably assisted them, the fact they had what described as military grade explosives do you mean, assisting them monetarily or indoctrining a. >> they have to have something to train with here or overseas, the other aspect is who is endorsing their action, they sat together and said we'll kill americans, and throw bombs, this is not a decision that two people have not published with no literature decide on their own, some inspiration has been
2:37 pm
given to them by people either here or overseas. adam: walid phares thank you for joining us. >> we're watching how boston based businesses react. emc corporation has asked employees to work from home if they live in areas affecced and lpl financial have told employees to stay home, a few companies that are headquartered or offices in boston metropolitan area, there are a couple sporting events scheduled to take place this afternoon, and evening red sox will play royals, and bruins will playpen swings, they are saying they will take the lead of state and local officials, but as of now neither even has been canceled. we'll bring you the latest on the boston manhunt as it unfolded. tracy: ahead, business news, dell shares tumbling after the computer maker got dumped by
2:38 pm
blackstone, in a certainly sternly worded letter, next. adam: first time to check 30-year treasuries. ♪
2:39 pm
hey everybody, hi mom... streaming live with a tour of my new place... knowing you can still reach out. ... and now you've seen it. that's perful. verizon. get mom a lucid 2 by lg for free. >> an bye-by anheuser-busch. back in january justice
2:40 pm
department filed a lawsuit trying to block the takeover saying it would give anheuser-busch too much control over american beer market. >> mississippi is third state suing bp for the oil pill in spill in the gulf of mexico this move comes one day before the 3 year statute of limitations to set to recover. >> and nation's economic recovery hit a springtime soft spot for a third year, a poll shows 52% of americans disapprove of president obama's handling of the economy. giving you the power to prosper.
2:41 pm
adam: breaking news, faa approved boeing 787 dreamliner battery system, this is a key step for that aircraft
2:42 pm
to resume passenger flight, boeing shares up 2%, and air line industry is seeking a stay in dc, washington d.c. courts to avert air traffic furloughs, you heard jeff flock talking about those, saying you could expect 3 1/2 hours delays if the furloughs take place. tracy: dell shares getting hit after blackstone lost interest in pursuing the pc maker, laying out main concerns in a sharply worded letter to dell, liz macdonald on the story. >> good to be with you. they have walked away after examine dell's books, i tell you, when they -- what they said in the letter, really eyebrow raising, looking at some dell's unprecedented 14% market decline in pc volume in first quarter
2:43 pm
2013, that is in the letter. and basically what we're seeing is that drop that 14% drop, is worse than what the average for market, about a 13% drop. and smmrtphones and tablets are chewing into dell's, the letter announced. steepest drop in history, rapidly eroding profile was not previously understood before they looked at the books. and lowering operating income forecast. he is basically cutting his stake, and to keep his stake down he may move to get other shareholders in. in means that the silver lake bid is sticking bad.
2:44 pm
tracy: won't you do due diligence before putting an offer on the table. >> you do. tracy: should it have been done prior? >> a good point, that is the question. but, i tell you, according to our sources there was a lot of fighting behind scenes at blackstone over whether or not to precede with this bid for dell, it was considered a pricey, risky move. because of the plan sheet and earnings position. adam: all right. tracy: i don't know. >> we'll watch this, it could go private but a cheaper level. tracy: thank you. adam: for some, dell might be fool's gold, but how about real gold? gold trading hire high are for a second straight day. sandra in the pit with the trade on commodity. >> a bounce back in yellow metal but nothing to make up for over
2:45 pm
$100 drop that we've seen over past week, a lot of volatility this week, but perhaps today, story is not a lot of trades exchanging hands, and not big movement in commodities across the board could lack of volatility in the trading session. sitting below that $1400 once you, we started the week above $1500. anyone hanging on to gold, got hit another wo 100 bucks this w. also repoots of stronger jewelry demand propping up goal prices today, what is out of favor is copper, copper, down today, poised for the biggest weekly drop in 16 months, with inventory reports showing that inventories are highest level since 2003. you -- weak outlook from chinese economy. major consumer of copper, copper
2:46 pm
prices down 6% this week. quantifying that volatility that we've seen in commodity market, we have a full screen for you, biggest movers, silver, more so than gold, silver prices down 12.4% for the week, goa gold don 7%, and copper prices more than a 6% hit, lean hog, ad markets rocking up 70% this get -- up 7%. the grillining season we're approaching, barbecue season, natural gas a big mover up 4%. and that is always volatile but throwing it in with our crazy weather in the united states, a big move either week, back to you. adam: sandra smith thank you. >> a quarter till, as we do at this point, every many minutes time to head to new york stock exchange this time ben wil wills
2:47 pm
joining us, how do you explain this market? >> it is difficult, you need to back yourself away ffom your trading screen, realize this market is in a normal correction phrase, dramatic volatility throughout the week led by economy data and movement in commodity market. when you look at it you will see you have seen dramatic money flows out of commodity market, some has been finding its way into equity market, like telecoms, a defensive issue for many, it has paid off yesterday and today. but in overall picture, market is going through a healthy albeit volatile, movement to the down side, resetting. i think there is a likelihood dow jones become near 14,000 mark before the correction is over. against that is not a reason to panic or get upset, the work is not coming to an end. i believe major market
2:48 pm
industries will be higher by the end of the year, but like you trim a rose bush that you want to continue blossom. stock market has to do the same thing. adam: are you willing to call a bottom on this? this correct you are calling for? >> i would see it in action as -- but i think i would hope, actually to see a 5% move. to the down side, from our highs, however i think 7% would -- somewhere between 5 and 7 is where i would tell widows and orphans it is okay to buy defensive issues. adam: ben good to see you. tracy: if you think this week was action-packed for markets wait until next week, we preview biggest news earnings,. adam: but first a look at some of today's winners and losers.
2:49 pm
♪ [ male announcer ] ery car we build must make adrenaline pump and pulses quicken. ♪ to help you not just stay alive.. but feel alive. the class is no exception. it's a mercedes-benz, through and through. see your authorized mercedes-benz dealer for exceptional offers through mercedes-nz financial services.
2:50 pm
2:51 pm
2:52 pm
adam: white house released a photograph of president obama meeting with members of his national security team discussing latest in boston marathon bombings,. tracy: president sitting next to robot mueller in this picture. first quarter results waizing on stocks this week, earning seen not off to the best start, but, our next guest said, it is not a disaster, what should visitors expect -- visitor visit investos expects next week. >> 102 companies of s&p 500 have reported.
2:53 pm
about 33% of total market cap, last quarter 61% of companies beat low revenue expectations this quarter so far, 36% have beat revenue expectations. those expectations, they are low. so, there is a lot of to digest, we need to be careful of big companies, the big rogue companies you know amazons of the world. they will probably keep correeting as people realize, you know, you can't squeeze any more out of this fruit. we're at peak margins. tracy: that is the thing, consumers not stepping up to the plate like everyone is hoping, talking tech, tech has been a disappointment? >>it has, tech out of everything beside telecom has been a best performer in beats, but you give google and kudos but yahoo! with
2:54 pm
weakness showing, market promised a big old house, it has not gotten to building that house, 6 months out, the last half of 2013 the market expecting growth, 1.3% growth is what we're getting out of the first half. tracy: okay. you mentioned tech, let's start with apple. we have been killing apple, it is getting killed. do you sell now into earnings? >> it will probably get killed again, we're looking for a miss on eps, earning -- i am sorry esp, below $ 10 on apple but the stock has been battered so bad, people might buy in sympathy, i don't know if i would be panic selling it ahead of the open, if you are looking to buy it, i would not jump in yet, trade
2:55 pm
lightly. tracy: caterpillar, is a good litmus test for the local economy. you are expecting a 40% drop for mining come purchases, from china in particular. >> what we'll see from caterpillar in line to slight beat for this quarter, but the forward projects that will hurt caterpillar could look for weakness and stock to move lower after earnings. tracy: i love that hasbro has -- we buy kids for our toys. >> mattel had an awesome quarter, and hasbro has partnered up with a jewelry company to do a lot of hasbro-themed jewelry, i don't know if i am buying barbie-themed jewelry, it is interesting, i would be a buyer, lightly. tracy: i got 30 seconds left, rest of earnings seen, you think a big disappointment but does market go up anyway?
2:56 pm
>> no, i think we continue to correct, rest of earnings season will look like what we've seen, revenue expectations and realization there is no top line growth will spook the markets. we evacuate from happened in -- evaliate what happens in europe. tracy: jared levy, thank you have a great weekend. adam: selling your kids? tracy: never. adam: liz claman will take us through last hour of trading with the ceo of carbonnite. and today they were forced to close, how is this public company dealing with the city wide shut down, count down to the closing bell is next.
2:57 pm
the first technology of its kind... mom and dad, i have great news. is now providing answers families need. siemens. answers. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platformrom charles schwab... td: 1-800-345-25 gives me tools that help mfind opportunities more easily. tdd#: 1-345-2550 i can even access it from the cloud and trade on a computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime. tdd#: 1-800-345-2550 until choose to focus on something else. tdd#: 1-800-345-2550 all this with no trade minimums tdd#: 1-800-345-2550 and only $8.95 a trade. tdd#: 1-800-345-2550 open an account with a $50,000 deposit, tdd#: 1-800-345-50 and get 6 months commission-free trades. d#: 1-800-345-2550 call 1-866-751-3261.
2:58 pm
2:59 pm
you are gonna need a wingman. and my cash back keeps the party going. but my airline miles take it worldwide. [ male announcer ] it shouldn't be is hard. with creditcards.com, it's easy to search hundreds of cards and apply online. creditcards.com. liz: city in shut down, boston businesses, universities and syhools closed, major transport

1,242 Views

info Stream Only

Uploaded by TV Archive on